January 22, 2004
Willkie client Teva Pharmaceutical Industries Ltd., one of the world's largest makers of generic drugs, completes its $3.4 billion cash and stock acquisition of Sicor Inc., the Irvine, Calif.-based maker of generic sterile injectable products.
On January 22, Willkie client Teva Pharmaceutical Industries Ltd., one of the world's largest makers of generic drugs, completed its $3.4 billion cash and stock acquisition of Sicor Inc., the Irvine, Calif.-based maker of generic sterile injectable products. The deal, which was announced last November, further expands the scope of Teva's generic drug presence in the United States to the field of injectables. In conjunction with the closing of the acquisition, it was announced that Teva closed $1,130,000,000 of bank financings for the acquisition from Bank Leumi and Bank Hapoalim. Also on January 22, Teva announced a $1 billion convertible debenture offering, the proceeds of which will be used to repay the bank borrowings. The deal closing is reported in the January 23 Daily Deal. Willkie attorneys on the deal included: partners Peter Jakes, Jeffrey Hochman, Andrew Needham, William Rooney, Brent White, Theodore Whitehouse; special counsel Jonathan J. Konoff; associates Laly David, Patrick de Carbuccia, Christine DiVincent, Frank Gerhard, Moishie Klein, David Park, Lara Parker, Arthur Rheingold, Joseph Rose, Eric Rosenoff, David Rubinsky, Eran Sarig, Erika Shalette, Dong Shon.
